It is estimated that the global LED lighting market will reach US$25.7 billion and its market penetration will grow 31% in 2015, while the whole lighting market is estimated to increase to US$82.1 billion.
Under the circumstances of strengthening environmental protection, energy efficiency and environmental protection, the LED industry will be very promising, since it has lots of advantages as an energy-saving light source. If LED lighting gains popularity, global lighting electricity consumption will be reduced by over 50%. This trend proves the ideas presented by Premier Li Keqiang during the 2015 NPC & CPPCC Sessions, where he mentioned "environmental protection" 8 times and "energy conservation" 6 times, while highlighting energy efficiency and environmental protection as crucial pillars to advance China’s industrial development.
It is true that these increasingly popular concepts have offered a chance for LED development. LEDs energy efficiency and environmental friendly features will play an important role for governments to reduce reliance on coal-fired power plants, which will generate a new wave of LED demands in the near future. Intense price competitions are also forcing lighting manufacturers to apply various development strategies and look for new niche applications to improve profitability.